CFO Ingo Bank moves from Osram to ams

2020/03/06

Osram CFO Ingo Bank has been appointed CFO of ams AG as of May 1, 2020. ams, a sensor and semiconductor specialist based in Premstätten, Austria, in 2019 successful launched a takeover offer for all the outstanding shares of OSRAM Licht AG. Osram and ams had agreed to possibly expand the number of ams board members through the course of the acquisition with the appointment of an Osram board member.

“I would like to thank Ingo Bank very much for his achievements over the past three and a half years. He has been a major asset for Osram, making a significant contribution to the realignment of the company from a lamp manufacturer to a high-tech lighting concern. His financial expertise and his knowledge of the lighting industry will be of great benefit in the continuing process of combining Osram and ams,” said Peter Bauer, Chairman of the Supervisory Board of Osram. At Osram, CEO Olaf Berlien will also head the finance department on a temporary basis after Bank’s departure.

“Our Business Combination Agreement provides for mixed teams from both companies as a prerequisite for successful integration. The appointment of Ingo Bank to the ams board is an important step for the future integration of the two companies and ensures continuity in management,” added Bauer.

The acquisition of Osram by ams remains subject to regulatory approvals. These approvals and subsequent completion are expected before the summer.
 

ABOUT OSRAM

OSRAM, based in Munich, is a leading global high-tech company with a history dating back more than 110 years. Primarily focused on semiconductor -based technologies, our products are used in highly diverse applications ranging from virtual reality to autonomous driving and from smartphones to smart and connected lighting solutions in buildings and cities. OSRAM uses the endless possibilities of light to improve the quality of life for individuals and communities. OSRAM’s innovations enable people all over the world not only to see better, but also to communicate, travel, work and live better. OSRAM has approximately 23,500 employees worldwide as of end of fiscal 2019 (September 30) and generated revenue of about 3.5 billion euros from continuing activities. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED 400; trading symbol: OSR). Additional information can be found at  www.osram.com.


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